South Dakota § 51A-15-30 Limitations on powers of director or receiver in liquidating bank.

South Dakota Statutes

§ 51A-15-30 — Limitations on powers of director or receiver in liquidating bank.

South Dakota § 51A-15-30

Title 51ABANKS AND BANKING

Ch. 51A-15SUSPENSION AND LIQUIDATION OF BANKS

This text of South Dakota § 51A-15-30 (Limitations on powers of director or receiver in liquidating bank.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 51A-15-30 (2026).

Text

In liquidating a bank the director or receiver may exercise any power thereof but he may not, without the approval of the circuit court:

(1)Sell any asset of the bank having an appraised value in excess of five thousand dollars;

(2)Compromise or release any claim which exceeds five thousand dollars, exclusive of interest; or (3) Make any payment on any claim, other than a claim upon an obligation incurred by the director or receiver, before preparing and filing a schedule of his determinations in accordance with subdivision 51A-15-36 (3).

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In liquidating a bank the director or receiver may exercise any power thereof but he may not, without the approval of the circuit court: (1) Sell any asset of the bank having an appraised value in excess of five thousand dollars; (2) Compromise or release any claim which exceeds five thousand dollars, exclusive of interest; or (3) Make any payment on any claim, other than a claim upon an obligation incurred by the director or receiver, before preparing and filing a schedule of his determinations in accordance with subdivision 51A-15-36 (3).